dMY Squared Technology Group, Inc. Your Guide to the Horizon Quantum Computing Merger

1. What happened? (in plain English - the actual event)

dMY Squared Technology Group, Inc. (dMY Squared) made an important move. They merged with Horizon Quantum Computing Pte. Ltd. This Singapore-based company focuses on quantum computing. The deal created a new public company: Horizon Quantum Holdings Ltd. (Holdco). dMY Squared, a SPAC, used its public listing to bring Horizon Quantum Computing to the stock market. This process, called a "de-SPAC," offers a quicker way to go public than a traditional IPO. The merger valued Horizon Quantum Computing at about $200 million. This was based on the agreed deal terms. After the merger, dMY Squared became a fully owned part of Holdco. It no longer trades as an independent public company.

2. When did it happen?

The merger completed on March 19, 2026. dMY Squared's shareholders approved the deal. Shares of the new company, Horizon Quantum Holdings Ltd., began trading. They started on Nasdaq under "HQ" (warrants as "HQWWW") on March 20, 2026. This quick move from merger to public trading is common for SPACs.

3. Why did it happen? (context and background)

Why did dMY Squared make this move? dMY Squared formed to find a promising company to take public. It raised about $150 million in its own IPO for this goal. They found Horizon Quantum Computing. This Singapore company works in the fast-growing field of quantum computing. dMY Squared's leaders saw Horizon Quantum Computing as a good fit. Horizon pioneers quantum compilers and software tools. These tools aim to make quantum computing easier for many users. Their technology translates programming languages into quantum machine code. This solves a key challenge in quantum application development. dMY Squared saw strong innovation and market potential in Horizon's business. The quantum technology sector is new but growing fast. This deal gives Horizon capital and public visibility. It helps them speed up research, development, and sales.

4. Why does this matter? (impact and significance)

This is a big deal. dMY Squared is no longer a "shell company" seeking a deal. It completed its mission by merging with Horizon Quantum Computing. Now, dMY Squared investors own a piece of Horizon Quantum Holdings Ltd. This company focuses on quantum computing. Experts expect this sector to grow a lot. Some predict the market will exceed $1 billion by 2026. It could reach tens of billions in the next decade. The company's stock also moved from OTC Markets to Nasdaq. Nasdaq is a much larger stock market. This brings more attention, easier trading, and investor interest. It can attract big institutional investors. They often avoid smaller exchanges. The successful de-SPAC confirms dMY Squared's original investment idea. It gives Horizon Quantum Computing capital and a platform. This helps them grow operations and technology.

5. Who is affected? (employees, customers, investors, etc.)

• Investors (that's us!): Our dMY Squared shares now link to Horizon Quantum Holdings Ltd. (HQ). The stock price will show this new company's performance. This includes its tech progress, sales efforts, and financial results. Some shareholders redeemed their shares for cash before the merger. About 1.4 million shares were redeemed at $11.82 each. This totaled about $16.47 million. This redemption rate is common. But it reduced the cash available to the combined company. dMY Squared's trust account initially held $150 million.
• Employees of Horizon Quantum Computing: Their company is now public. This brings new chances like more R&D funding. They may get stock-based pay and wider career paths. But it also means more public scrutiny. Changes in how the company is run and reporting rules will apply.
• Customers of Horizon Quantum Computing: They might see new products or services. The company could expand its reach with more funding. This may lead to faster development of Horizon's quantum software.
• Management of both companies: Most dMY Squared directors and officers stepped down. Harry You joined the new company's board as a director. Joseph Fitzimons is now CEO of Horizon Quantum Holdings. Si-Hui Tan is Chief Science Officer. Greg Gould is Chief Financial Officer. The new board mixes former dMY Squared reps, Horizon executives, and independent directors. They bring varied expertise to guide the public company. They will integrate businesses and manage public expectations. They aim to make the new company successful in a competitive tech field.

6. What happens next? (immediate and future implications)

What's on the horizon?

• Immediate: The merger is complete. New shares already trade on Nasdaq under HQ. Expect the stock price to fluctuate. The market will learn about Horizon Quantum Computing's tech, strategy, and financials. Horizon Quantum Holdings will file detailed financial info with the SEC. This includes initial annual and quarterly reports. These reports offer deeper insights into its operations.
• Next few months: The focus will be on integrating the companies. They need a smooth shift to public operations. Horizon Quantum Computing's core business performance is key. Milestones will include developing its quantum compiler tech. They will also seek new partnerships or customer deals. They may show real-world proof-of-concept for their software. The stock ticker already changed from DMYY to HQ. This marks the definitive shift.
• Longer term: The focus shifts to Horizon Quantum Holdings' performance as a public company. Are they hitting growth targets in quantum computing? Are they selling their software and services? Are they moving towards profit? Or do they show a clear path to making money? This will decide the stock's long-term value. Investors will seek real progress in this sector. It is known for long development times and high capital needs.

7. What should investors/traders know? (practical takeaways)

Here's the lowdown for you:

• Do your homework on Horizon Quantum Computing: dMY Squared's future now links to them. Understand what Horizon Quantum Computing does. Learn how they make money, or plan to. Check their growth prospects in quantum computing. This means knowing their tech, competitors, and market.
• Expect volatility: Big news often makes stock prices jump around. This is true for new public companies in speculative fields like quantum computing. Prepare for big ups and downs. Market mood, news, and early financial results will affect trading.
• The "de-SPAC" process is complete: The deal closed. The ticker changed to HQ. The company now operates fully as a public entity. Focus shifts from the merger to Horizon Quantum Holdings' performance.
• Listen to management: Pay attention to the new leaders of Horizon Quantum Holdings. Hear their plans, goals, and financial outlook. Especially note their guidance on sales, R&D spending, and product launch times. This offers key clues about their direction and execution.
• This is a long-term play (usually): Day traders might seek quick gains. But a SPAC merger's true story unfolds over years. This is especially true in developing fields like quantum computing. The underlying business needs time to grow. Investing in quantum computing often means higher risk. The technology is early stage. Significant tech hurdles or competitive changes are possible.

Remember, this isn't financial advice. It's just a breakdown of the situation. Always do your own research. Consider your personal finances before making any trading decisions!